Can I retire at age 62 with 615,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $615,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$50,786$50,334$49,892$49,462$49,041$48,732
2 years$25,142$24,673$24,220$23,780$23,353$23,041
3 years$16,595$16,124$15,672$15,236$14,816$14,511
4 years$12,322$11,853$11,405$10,977$10,567$10,271
5 years$9,759$9,293$8,851$8,431$8,033$7,747
6 years$8,051$7,588$7,153$6,742$6,356$6,081
7 years$6,831$6,373$5,944$5,543$5,169$4,905
8 years$5,917$5,463$5,041$4,650$4,288$4,035
9 years$5,206$4,756$4,342$3,961$3,611$3,369
10 years$4,638$4,192$3,785$3,414$3,077$2,845
11 years$4,173$3,732$3,332$2,971$2,646$2,424
12 years$3,787$3,350$2,957$2,606$2,293$2,082
13 years$3,459$3,027$2,642$2,301$2,000$1,798
14 years$3,179$2,752$2,374$2,043$1,753$1,561
15 years$2,937$2,514$2,144$1,822$1,544$1,361
16 years$2,725$2,306$1,943$1,631$1,364$1,191
17 years$2,538$2,124$1,768$1,466$1,210$1,045
18 years$2,372$1,963$1,614$1,321$1,075$919
19 years$2,224$1,819$1,478$1,193$959$811
20 years$2,090$1,690$1,356$1,081$856$717
21 years$1,970$1,574$1,248$981$766$634
22 years$1,860$1,470$1,150$892$687$562
23 years$1,761$1,375$1,062$812$617$499
24 years$1,669$1,288$982$741$554$444
25 years$1,586$1,209$909$677$499$395
26 years$1,508$1,136$843$619$449$351
27 years$1,437$1,069$783$566$405$313
28 years$1,371$1,007$728$519$365$279
29 years$1,309$950$678$476$330$249
30 years$1,252$897$631$437$298$222
31 years$1,198$848$588$401$270$199
32 years$1,148$803$549$369$244$178
33 years$1,101$760$513$339$221$159
34 years$1,057$721$479$312$200$142
35 years$1,016$683$448$287$181$127
36 years$977$649$419$264$164$114
37 years$940$616$392$244$149$102
38 years$905$585$367$225$135$91
39 years$872$557$344$207$122$81
40 years$841$530$322$191$111$73
41 years$811$504$302$176$101$65
42 years$783$480$284$163$91$59
43 years$756$458$266$150$83$52
44 years$731$436$250$139$75$47
45 years$706$416$235$128$68$42
46 years$683$397$220$118$62$38
47 years$661$379$207$109$56$34
48 years$640$361$194$101$51$30
49 years$620$345$183$93$46$27
50 years$600$330$172$86$42$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $615,000, adding $3,035 every year, while hoping to spend $27,441 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 86/7/7 Blend
61$615,000$615,000$615,000$615,000
62$680,861$648,266$638,733$738,784
63$721,111$650,834$630,934$779,577
64$764,548$652,608$621,953$820,309
65$811,467$653,520$611,723$864,191
66$862,192$653,499$600,172$911,519
67$917,082$652,467$587,224$962,621
68$976,530$650,343$572,802$1,017,859
69$1,040,968$647,041$556,822$1,077,630
70$1,110,870$642,470$539,200$1,142,371
71$1,186,760$636,532$519,844$1,212,563
72$1,269,212$629,125$498,661$1,288,738
73$1,358,858$620,138$475,552$1,371,480
74$1,456,394$609,457$450,416$1,461,431
75$1,562,585$596,959$423,143$1,559,300
76$1,678,273$582,515$393,623$1,665,869
77$1,804,384$565,986$361,737$1,781,995
78$1,941,940$547,227$327,364$1,908,628
79$2,092,061$526,085$290,374$2,046,810
80$2,255,985$502,396$250,635$2,197,690
81$2,435,070$475,988$208,006$2,362,535
82$2,630,814$446,679$162,341$2,542,741
83$2,844,867$414,276$113,489$2,739,844
84$3,079,043$378,575$61,291$2,955,539
85$3,335,341$339,361$5,579$3,191,693
86$3,615,961$296,405$0$3,450,361
87$3,923,328$249,468$0$3,737,835
88$4,260,111$198,295$0$4,053,294
89$4,629,248$142,618$0$4,399,087
90$5,033,977$82,152$0$4,778,260
91$5,477,864$16,598$0$5,194,172
92$5,964,836$0$0$5,650,521
93$6,499,218$0$0$6,155,568
94$7,085,775$0$0$6,711,338
95$7,729,755$0$0$7,321,526
96$8,436,940$0$0$7,991,609
97$9,213,699$0$0$8,727,625
98$10,067,047$0$0$9,536,222
99$11,004,713$0$0$10,424,725
100$12,035,213$0$0$11,401,203